Passenger car sales in India rose 0.73 per cent to 1,56,018 units in September,the highest level this fiscal,raising hopes of a rebound in the market,which has been reeling under a prolonged slump. Automakers had sold 1,54,884 units of passenger cars a year earlier.
The good news is that for cars,passenger vehicles,utility vehicles and two-wheelers,September was the best month in terms of absolute numbers this fiscal. I hope we can continue with this momentum, Society of Indian Automobile Manufacturers (Siam) president Vikram Kirloskar said. In August,domestic car sales rose 15.37 per cent to 1,33,486 units,ending a record nine-month slump in sales.
However,the Siam struck a cautious note,saying it was unlikely that passenger car sales would post positive growth this fiscal under current economic circumstances.
It said the decline of 4.67 per cent in car sales in the first half of this fiscal was the worst since 2002-03,when sales dropped by 6.96 per cent in the same period.
Asked if the September sales reflected a rebound in the market,Kirloskar said: It is difficult to say,but we have had a good monsoon and some positives around. Kirloskar said it was unlikely for car sales to post positive growth this fiscal unless something really nice happens in the festive season.
I will be really happy if there is flat or even a slight positive growth this fiscal, he added.